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Asanagon Asset Management SA
It reduced its holding in Spotify Technology SA (NYSE: SPOT) by 7.1% during the fourth quarter, as shown in its latest Form 13F filed with the SEC.
31,074 shares were sold during the reporting period, and the fund now holds 409,500 shares of the company.
According to Assenagon Asset Management SA’s latest disclosure,
The company created by the SEC owned 0.21% of Spotify Technology at a value of $32,330,000.
Several other hedge funds and institutional investors have recently completed transactions involving the purchase and sale of SPOT shares.
In the third quarter, Baillie Gifford & Co increased its stake in Spotify Technology by 6.7%.
After purchasing 1,764,880 shares in the previous quarter, Baillie Gifford & Co now owns 27,964,517 shares of the company worth $2,413,338,000.
BlackRock INC increased its position in Spotify technology by 20.2% in the third quarter of this fiscal year.
BlackRock INC now owns 4,214,562 shares of the company, valued at $363,717,000, after acquiring an additional 707,653 shares in the most recent quarter.
Samlyn Capital LLC’s ownership of Spotify Technology increased to 394.4% during the third quarter.
After acquiring an additional 362,003 shares during the previous quarter, Samlyn Capital LLC now holds a total of 453,792 shares in the company.
Through the second quarter, Renaissance Technologies LLC increased its ownership of Spotify Technology by 135.4%. Renaissance Technologies LLC now owns 591,700 shares of the company after purchasing 340,300 of his shares last quarter.
The value of the shares held by Renaissance Technologies LLC is $55,519,000.
At the final stage of this process, Alecta Tjanstepension Omsesidigt boosted its share of Spotify technology by 9.0% during the third quarter. After acquiring an additional 250,000 of his shares during the previous quarter, Alecta Tjanstepension Omsesidigt now owns 3,035,600 shares in the company for a total value of $261.79 million.
Institutional investors own 52.8% of the company’s shares.
A share of SPOT stock was priced at $126.41 when trading opened on Tuesday. Spotify Technology SA hit his 52-week low of $69.29 and 52-week high of $160.06 for the entire year.
The company has a moving average of $114.67 over the last 50 days and $95.32 over the last 200 days.
Spotify Technologies (NYSE: SPOT) announced its latest quarterly results on Tuesday, January 31st.
The company reported earnings per share (EPS) of 1.43% for the quarter. This is 0.15% lower than the market analyst consensus forecast of 1.28% for him.
Spotify Technology’s net profit margin was negative 3.48% and the company’s return on equity was negative 17.78%.
Actual revenue for the quarter was $3.23 billion, lower than the consensus estimate of $3.26 billion.
Market analysts forecast that Spotify Technology SA will earn $2.15 less per share during the current financial year.
Recent comments about the company have come from several different analysts. Rosenblatt Securities, in a report released Wednesday, Feb. 1, raised Spotify Technology’s price target from $87.00 to $110.00, giving the company a “neutral” rating. Jefferies Financial Group downgraded Spotify Technology from ‘buy’ to ‘hold’.
The company lowered its target price from $115.00 to $95.00 in a research report released Thursday, January 12.
The target price for Spotify technology set by UBS Group has been lowered from $142.00 to $100.00, according to a research note released Thursday, January 5.
Piper Sandler increased Spotify Technology’s target price from $87.00 to $105.00 in a research note published on January 31st.
Barclays has raised its target price for Spotify Technology from $131.00 to $145.00, giving the company an “Overweight” rating in a research note published Wednesday, February 1.
Eight research analysts gave the stock a Hold rating and 13 gave a Buy rating.
According to data provided by Bloomberg, the stock is currently rated as having an average ‘moderate buy’ recommendation, with a price target of $131.77.
Spotify Technologies SA
A digital music service that gives users instant access to a large music library.
It is a service for people who want to enjoy music.
There are two ways to make money from it: premium and ad-supported.
Premium customers can listen to unlimited high-quality streaming music and podcasts on their computers, tablets and mobile devices with or without an internet connection.
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